Hochtief Projektentwicklung, a subsidiary of German builder Hochtief, has sold the office building at Invalidenstrasse 91 in Berlin-Mitte to a Credit Suisse real estate fund. Financial details were not disclosed. The property has a gross floor area of around 9,000 m2.

The building is due for completion by mid-2011. Around 60% of the complex will be used by the Verband kommunaler Unternehmen (association of local public utilities). Of the total eight floors, six are designated for office use. The ground floor will house a conference and event area. The underground car park will have 28 parking slots. The complex, which is grouped around a landscaped inner courtyard, will have two entrances with separate reception areas and stairways.

With more than 66,000 employees and a sales volume of EUR 18.17 bn in 2009, Hochtief is active in all the world’s major markets in the fields of development, construction, services, concessions and operation of the entire life cycle of infrastructure projects, real estate and facilities. Hochtief Projektentwicklung has been developing, realizing and marketing real estate projects in Germany and abroad since 1991. In Germany, the company is considered the leading inner-city developer.